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Wednesday, February 24, 2021 12:40:04 AM
SOURCE:SEC 10K 2020
MGIC BEATS ANALYST EARNINGS ESTIMATE BY $.04 CENTS MATCH REVENUE EST. $302 MILLION
HIGHLIGHTS:
BOOK VALUE $13.88
EARNINGS 149.5 MILLION Q4 2020
EARNINGS PER SHARE $1.29 2020 v. $1.28
EARNINGS PER SHARE $.44 CENTS Q4 2020
RECORD NEW INSUR WRITTEN 33.2 MILLION Q4
NEW INSURANCE WRITTEN FOR 2020 $112.1 MIL.
"Tim Mattke, CEO of MTG and Mortgage Guaranty Insurance Corporation ("MGIC") said, "I am pleased to report that we finished 2020 with strong financial results which reflect the favorable housing market trends we have been experiencing especially in the second half of the year."
"Despite the economic effects of the COVID-19 pandemic, the housing market has been resilient and, given our market presence and the overall market size, we wrote $112.1 billion of new insurance in 2020, including $33.2 billion in the fourth quarter. As a result, insurance in force increased more than 10% year-over-year, despite the lower annual persistency associated with the strong refinance market.
In 2020, we further strengthened our already strong capital and liquidity positions by reducing the amount of holding company debt due in 2023, increasing liquidity at our holding company, ceding additional risk through reinsurance transactions, and increasing MGIC's statutory and PMIERs capital positions."
Recent MTG News
- MGIC Investment Corporation Schedules 2nd Quarter 2024 Earnings Call • PR Newswire (US) • 07/01/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:51:31 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:19:05 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/09/2024 09:12:32 PM
- MGIC Investment Corporation Reports First Quarter 2024 Results • PR Newswire (US) • 05/01/2024 08:05:00 PM
- MGIC Investment Announces Additional $750 Million Share Repurchase Program and Quarterly Dividend of $0.115 Per Share • PR Newswire (US) • 04/25/2024 06:01:00 PM
- MGIC Investment Corporation Schedules 1st Quarter 2024 Earnings Call • PR Newswire (US) • 04/02/2024 09:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:19:19 PM
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